Economist and former Prime Minister of Indian Dr Manmohan Singh today accused the Narendra Modi government of ‘systematically” dismantling the Indian economy, the third-largest in the world. He alleged that in just four years, PM Modi’s government has reversed the successes of the UPA government.
“A healthy economy requires a well-functioning banking sector. Today neither are banks lending nor is the private sector borrowing to make new investments. The growth engines of the economy are spluttering. Perhaps it is here that the mismanagement of the Modi government is most evident,” said Singh.
Speaking to reporters in Karnataka, he claimed that the “virtuous intentions” of the Narendra Modi government has caused the country massive losses due to its “lack of reasoning and analysis”. According to The Quint, the former prime minister said people have lost faith in the banking sector.
“The economic mismanagement of the Modi government and I say this with great care and responsibility is slowly eroding the trust of the general public in the banking sector. Recent events which resulted in the shortage of cash in many states were preventable. But the government is not doing its job,” he further added.